Using Analytics to Future-Proof Your Partnerships

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Here we're going to dissect the left and right side of sponsorship execution. It may come as a surprise to you that there is a left and right side at all but the most successful sponsorships require two modalities of thinking.

The left side is the analytical side. It's where we rely on facts and data and all those analytical tools now available to assist us in our decision making. It's also the side we use to execute a sponsorship.

The right side is the creative side. This is where we have the opportunity to be playful and thoughtful and it's what drives consumer engagement when we get it right.

Before entering any sponsorship agreement there are several critical steps that must be taken to ensure a successful partnership. Here they are!

  • Do your research

Understand the likes and dislikes of your target market to know that your brand is a fit

  • Create hypotheses

It's also called following your hunch. Ask yourself what's possible. What do you want to achieve through this partnership that's not possible without it.

  • Test the market

Dip your toe in the water to see if your target market are going to be responsive to the campaign approach. Trial stages of the campaign to see what feedback is available.

  • Gather data

Ensure you have set up ways to capture the data

  • Analyse

Collecting data is a great first step but it's also important to analyse the results to form an opinion about future decisions

  • Respond to the feedback

Make informed decisions based on the analysis and move a step closer to realising your desired outcome.

Want to know more about using analytics to future proof your partnerships? Book Caroline for your next corporate event info@eventsponsors.com.au

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